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For Sale By Owner Purchase Agreement

For Sale By Owner Purchase Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

For Sale By Owner Purchase Agreement Template

I need a For Sale By Owner Purchase Agreement Template for selling my Dubai Marina apartment valued at AED 2.5 million, with completion scheduled for March 2025, that includes provisions for existing tenant management and transfer of high-end furniture.

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Document background
The For Sale By Owner Purchase Agreement Template is specifically designed for use in the United Arab Emirates real estate market where property owners wish to conduct sales transactions directly with buyers without broker intermediation. This document template ensures compliance with UAE federal property laws, including Federal Law No. 5 of 1985 (Civil Code) and Federal Law No. 13 of 2008 (Property Registration Law), as well as emirate-specific regulations. It serves as a comprehensive framework for documenting property sales, incorporating all necessary elements required by UAE land departments for successful property transfer registration. The template includes provisions for proper party identification, property description, payment terms, warranties, and completion requirements, making it suitable for both residential and commercial property transactions. It's particularly valuable in the UAE market where proper documentation and compliance with local property laws are crucial for valid property transfers.
Suggested Sections

1. Parties: Identification of the seller and buyer with full legal names, Emirates ID numbers, and contact details as required by UAE law

2. Background: Brief context of the sale, confirming the seller's ownership and intention to sell

3. Definitions: Key terms used throughout the agreement, including property-specific terminology and UAE real estate terms

4. Property Details: Comprehensive description of the property including title deed number, property size, location, and registration details as per UAE land department requirements

5. Purchase Price: Detailed breakdown of the purchase price and payment schedule, including deposit requirements and final payment terms

6. Payment Terms: Specific payment methods, installment schedule if applicable, and requirements for fund verification as per UAE regulations

7. Title and Transfer: Procedures for property transfer at the relevant land department and requirements for title deed transfer

8. Seller's Warranties: Seller's representations regarding property ownership, absence of disputes, and compliance with UAE property laws

9. Buyer's Warranties: Buyer's confirmations regarding financial capacity and compliance with UAE property ownership laws

10. Completion Requirements: Steps required for transaction completion, including required documentation and land department procedures

11. Handover Terms: Conditions and timeline for property possession transfer and utility account transfers

12. Default and Termination: Consequences of default by either party and termination procedures

13. Governing Law and Jurisdiction: Confirmation of UAE law application and relevant emirate's courts' jurisdiction

Optional Sections

1. Mortgage Contingency: Required if buyer's purchase is contingent on obtaining mortgage financing from a UAE bank

2. Property Inspection: Details of property inspection rights and procedures if agreed between parties

3. Furniture and Fixtures: List of included/excluded items if the sale includes furniture or fixed installations

4. Service Charge Settlement: Required for properties in managed communities to address outstanding and future service charges

5. Property Management: Required if property is currently tenanted or under property management

6. Escrow Arrangements: Details of escrow account usage if required for the transaction

7. POA Requirements: Required if either party is acting through a Power of Attorney

8. Maintenance Warranty: Optional warranty period for property maintenance issues after sale

Suggested Schedules

1. Property Floor Plan: Detailed floor plan and property layout from approved building plans

2. Title Deed Copy: Copy of current title deed showing ownership and property details

3. Payment Schedule: Detailed breakdown of payment installments and due dates

4. Property Inventory: List of included furniture and fixtures if applicable

5. Property Photographs: Current photographs of property condition

6. Service Charge Statement: Current statement of service charges and payment status

7. Required Documents List: Checklist of documents required for land department transfer

8. Handover Protocol: Detailed procedure for property handover and utility transfer

Authors

Alex Denne

Head of Growth (Open Source Law) @ 红杏直播 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions



































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Property Owner

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